Fair Debt Collection Practices Act (FDCPA)

Better Credit Blog

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. What Is the Fair Debt Collection Practices Act (FDCPA)? How the Federal Debt Collection Practices Act Protects You.

Consumer Financial Protection Bureau Issues Final Rule to Implement the Fair Debt Collection Practices Act

Consumer Finance

On October 30, 2020, the Consumer Financial Protection Bureau issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt.

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CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). Press release Fair Debt Collection Practices Act Financial education Debt collection Enforcement

Colorado Amends Fair Debt Collection Practices Rules

Collection Industry News

Colorado’s Administrator of the Uniform Consumer Credit Code recently amended the rules implementing the state’s Fair Debt Collection Practices Act. Provisions governing collection costs, letters of admonition, and the retention of recorded communications were also amended. The post Colorado Amends Fair Debt Collection Practices Rules appeared first on Collection Industry News. Source: site.

Important Updates to the Fair Debt Collection Practices Act

Credit Management Company

Now, there are additional steps you must add to your debt collection practices. Late last year, the Consumer Financial Protection Bureau (CFPB) announced the Final Rule that debt collectors must follow under the Fair Debt Collection Practices Act (FDCPA).

2019 Fair Debt Collection Practices Act

Burt and Associates

For your information is available the 2019 Fair Debt Collection Practices Act. The Federal Trade Commission (FTC) is the nation’s consumer protection agency. The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace. FDCPA 2019. Education

CFPB Proposes Regulations to Clarify, Modernize, and Implement the Fair Debt Collection Practices Act

Consumer Finance Watch

Financial institutions and debt collectors should take note of, and provide comments on, the CFPB’s recent Notice of Proposed Rulemaking, which attempts to provide consumers with “clear protections against harassment by debt collectors and straightforward options to address or dispute debts.” . Seeking to curb abuses in the debt collection industry, Congress enacted the FDCPA in 1977. Wayne Streibich , Diana M. Eng , Jonathan M. Robbin, Nicole R.

CFPB Issues Second Final Rule Clarifying Regulation of Fair Debt Collection Practices

Consumer Finance Watch

On December 18, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule concerning debt collection disclosures, which follows its October 30, 2020 final rule regarding debt collection communications. The two final rules implement and interpret the consumer protections set forth in the Fair Debt Collection Practices Act (“FDCPA”) of 1977. The latest final rule outlines various requirements regarding debt collection disclosures.

Bill Introduced in Congress to Amend the Fair Debt Collection Practices Act to Provide Enhanced Protection Against Debt Collector Harassment of Members of the Armed Forces

Troutman Sanders

Madeleine Dean (D-PA) introduced a bill, the Fair Debt Collection Practices for Servicemembers Act (H.R. 1491), proposing to amend two sections of the Fair Debt Collection Practices Act (FDCPA or the Act) — namely Section 805 of the FDCPA (15 U.S.C.

CFPB Issues Final Rule Clarifying Regulation of Fair Debt Collection Practices

Collection Industry News

On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) published a long-awaited final rule revising Regulation F, which implements the Fair Debt Collection Practices Act (“FDCPA”) of 1977. Prior to the formation of the CFPB, there was no regulatory body with rulemaking authority over debt collection practices. The final rule also makes it clear that a debt collector violates section 806(5) of the FDCPA (15 U.S.C.

Prepared Remarks of Acting Director Dave Uejio for the Interim Final Rule on CDC Eviction Moratorium Rights under the Fair Debt Collection Practices Act

Consumer Finance

Acting Director Dave Uejio remarks on the Interim Final Rule on CDC Eviction Moratorium Rights under the Fair Debt Collection Practices Act. Speech Disasters and emergencies Rulemaking Debt collection

Call Recording Retention and Limitations on Selling/Referring of Accounts Headline Proposed Changes Under Colorado Fair Debt Collection Practices Act

Troutman Sanders

On August 12, 2020, Nicholas Brechun, Compliance Supervisor for the Colorado Fair Debt Collection Practices Act (“CFDCPA” or “the Act”), sent out notice of a stakeholder meeting to discuss amendments to the Act. All Entries Debt Buyers & Collectors TCPA

House Passes FDCPA Amendment Bill to Protect Servicemembers

Account Recovery

The House of Representatives has passed a bill aimed at amending the Fair Debt Collection Practices Act to provide additional protections to servicemembers. 1491, the Fair Debt Collection Practices for Servicemembers Act, was introduced in March by Rep, Madeleine Dean [D-Penn.].

Consumer Financial Protection Bureau Issues Final Rule on Consumer Disclosures Related to Debt Collection

Consumer Finance

On December 18, 2020, the Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers. Press release Rulemaking Fair Debt Collection Practices Act Debt collection

Bill Introduced in House to Prohibit Collection of Time-Barred Debt

Account Recovery

A bill has been introduced in the House of Representatives that would amend the Fair Debt Collection Practices Act to prohibit the collection of any debt for which the statute of limitations has expired. Compliance Fair Debt Collection Improvement Act Rep.

Call Recording Retention and Limitations on Selling/Referring of Accounts Headline Proposed Changes Under Colorado Fair Debt Collection Practices Act

Collection Industry News

On August 12, 2020, Nicholas Brechun, Compliance Supervisor for the Colorado Fair Debt Collection Practices Act (“CFDCPA” or “the Act”), sent out notice of a stakeholder meeting to discuss amendments to the Act. 4) – preventing a terminated licensee from selling rights to collect accounts to another licensee, instead only allowing a second licensee to purchase the right of referral from the client; Rule 2.03(2)

Second Circuit Holds Debt Collector Did Not Need to Include Interest Disclosure in Settlement Offer

Burr Forman

Riexinger & Associates, LLC , the Second Circuit Court of Appeals held that an attempt to collect a debt that states the current balance owed but does not disclose whether interest and fees are accruing is misleading in violation of the Fair Debt Collection Practices Act (“FDCPA”) Section 1692e.

The Hunstein Effect—Examining the Eleventh Circuit’s Ruling and What’s Next for Debt Collectors and Their Third-Party Service Providers

Consumer Finance Watch

Court of Appeals for the Eleventh Circuit has delivered a novel and highly consequential interpretation of the Fair Debt Collection Practices Act that is potentially transformative … Continue reading → Consumer Financial Protection Debt Collection Litigation Developments account receivables management data privacy Fair Debt Collection Practices Act FDCPA privacy law third-party communicationWayne Streibich, Nicole R.

House Preps Vote on Key Debt Collection Bill

Account Recovery

A published … The post House Preps Vote on Key Debt Collection Bill appeared first on AccountsRecovery.net. 2547 Non-Judicial Foreclosure Debt Collection Clarification Act Private Loan Disability Discharge Act of 2021 Rep.

Eleventh Circuit Withholds Mandate in Hunstein v. Preferred Collection and Management Services, Inc.

Burr Forman

Preferred Collection and Management Services, Inc. The appeals court’s April 21, 2021, published ruling in Hunstein sent shockwaves through the collection industry when it held that debt collectors who share information about consumers’ debts with collection vendors can violate provisions in the Fair Debt Collection Practices Act (“FDCPA”) aimed at protecting consumer privacy. Preferred Collection and Management Services, Inc.</i>

The Fair Debt Collection Practices Act

Collection Industry News

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors. It does not apply to the original creditor itself who uses its own employees to collect debt. He sends your $45,000 bill to a debt collector in LA.

U.S. Supreme Court Rules Statute of Limitations for FDCPA Claim Runs One Year from Alleged Violation, Not Discovery

Blank Rome LLP

The Supreme Court of the United States (“Supreme Court”) recently affirmed the Third Circuit’s decision holding Fair Debt Collection Practices Act (“FDCPA”) claims are subject to a one-year statute of limitations from the date of an alleged violation and rejecting the Fourth and Ninth Circuit’s adoption of a broad “discovery rule.” However, debt collectors should take note that equitable tolling principles may still apply in certain circumstances. .

Third Circuit Broadens Definition of “Debt Collector” under FDCPA to Include Entities That Acquire Debt but Outsource Collection of That Debt

Consumer Finance Watch

a recent precedential decision, the Third Circuit Court of Appeals held an entity whose business is the purchasing of defaulted debts for the purpose of collecting on them falls squarely within the “principal purpose” definition of the Fair Debt Collection Practices Act (“FDCPA”), 15 U.S.C. 1692(a), even where the entity does not collect the debt and a third party is retained to do so. By: Jonathan M. Robbin, Diana M. Eng , and Maria K. Vigilante.

Second Circuit Holds No Need to Identify Components of Debt Where Collection Letter Provides Exact Amount Owed and Reaffirms Use of Safe Harbor in Holding Debt Collector’s Letter Did Not Violate the FDCPA

Consumer Finance Watch

2019), the Second Circuit recently held that a debt collector’s letters informing a consumer of the total present amount of debt owed satisfies Fair Debt Collection Practices Act (“FDCPA”) requirements. The Second Circuit’s decision clarified that, under the FDCPA, collection letters are not required to inform consumers of the debt’s constituent components, or the rates by which the debt may later increase. Jonathan M. Robbin, Diana M.

Eleventh Circuit Reaffirms its Prior Ruling that Debt Collectors who File Time-Barred Proofs of Claim are Subject to Liability Under the Fair Debt Collections Practices Act, and Further Concludes its Holding does not Place the FDCPA in Conflict with the B

The Creditors Rights

In 2014 the Eleventh Circuit held that a debt collector violates the Fair Debt Collections Practices Act when it filed a proof of claim in a chapter 13 case on a debt that it knows to be time-barred. 1692f, to collect a debt. Finding these terms to be ambiguous, the court adopted a “’least-sophisticated consumer’ standard” to determine whether a debt collector’s conduct is deceptive under the FDCPA.

Bedard Discusses New Validation Period Requirements

Account Recovery

The model validation notice represents a complete top-down overhaul of the validation notice that debt collectors have been sending since the Fair Debt Collection Practices Act was enacted back when disco was king.

Bill Introduced in Congress to Amend FDCPA to Protect Servicemembers

Account Recovery

A bill that passed unanimously in the House of Representatives last session has been reintroduced seeking to amend the Fair Debt Collection Practices Act to provide additional protections for servicemembers.

Judge Grants MSJ for Plaintiff in FDCPA Case Over Mis-Stated Debt in Letter

Account Recovery

A District Court judge in New York has granted a plaintiff’s motion for summary judgment in a Fair Debt Collection Practices Act case, but awarded the plaintiff only $500 in damages because of mitigating circumstances, after the defendant was accused of overstating the amount that was owed.

Daily Digest – July 21. Defendant in Barcode Case Filed En Banc Petition; Amount of Medical Debt Placed with Agencies Tops $140B

Account Recovery

Defendant in Barcode Case Filed En Banc Petition; Amount of Medical Debt Placed with Agencies Tops $140B appeared first on AccountsRecovery.net.

Daily Digest – July 7. Appeals Court Reverses Dismissal of FDCPA Suit Over Barcode on Envelope; New Student Loan Licensing Law in Mass. Now in Effect

Account Recovery

Appeals Court Reverses Dismissal of FDCPA Suit Over Use of Barcode on Envelope

Account Recovery

Defendant in FDCPA Barcode Case Files En Banc Petition With Appeals Court

Account Recovery

The defendant in a Fair Debt Collection Practices Act case where a lower court’s dismissal was reversed over the inclusion of a barcode on the envelope containing a collection letter has filed a petition with the Third Circuit Court of Appeals for an en banc rehearing, arguing that the Supreme Court’s ruling in TransUnion v.

Judge Grants MSJ For Defendant in FDCPA Case Over Call Volume, Revocation

Account Recovery

Judge Denies Certification in FDCPA Suit Over Credit Reporting Language in Letter

Account Recovery

Daily Digest – July 2. Judge Orders Parties in FDCPA Class Action To Submit Briefs Following SCOTUS Ruling; Judge Uses First Amendment to Grant MTD in FDCPA Case

Account Recovery